Milano, 09 February 2006
Banca Intesa and the controlling shareholder of Ukraine’s Ukrosotsbank have agreed to enter into exclusive negotiations for the acquisition of a controlling interest in the share capital of Ukrsotsbank.
Any development in negotiations, including the consideration for the acquisition, will be duly disclosed.
Ukrsotsbank is the fourth largest bank in the Ukraine in terms of total assets: as at 31st December 2004 it recorded USD 1,308 million total assets, USD 1,078 million customer deposits, USD 721 million customer loans and USD 154 million shareholders’ equity. For the twelve months ended 31st December 2004, its net income amounted to approximately USD 21 million. Today, it has a network of 527 branches, mainly developed in the last two years, which already serves over 660,000 customers.
With this transaction Banca Intesa - in line with the selective acquisition strategy confirmed in the 2005-2007 Business Plan - aims at playing a significant role in one of the most important Countries in Central-Eastern Europe, considering that the Ukraine has over 47 million inhabitants and one of the fastest growing economies in this region.
Gruppo Intesa is already operational in Central-Eastern Europe with Croatia’s second largest bank Privredna Banka Zagreb (PBZ), Slovakia’s second largest bank Vseobecna Uverova Banka (VUB), Serbia and Montenegro’s second largest bank Banca Intesa Beograd (formerly Delta Banka) and Hungary’s fourth largest bank Central-European International Bank (CIB). Meanwhile, the completion of the acquisition of UPI Banka, the fifth largest bank in Bosnia and Herzegovina, is under way. Moreover, Gruppo Intesa is operational also in the Russian Federation through KMB, a leading bank in lending and leasing to small enterprises, ZAO Banca Intesa, the only Italian bank with an operating licence in Russia set up at the end of 2003, and its Moscow representative office. The Group is also present in the Czech Republic through a VUB branch, in Slovenia through its Italian subsidiary Banca Popolare FriulAdria’s operations and in Poland with its Warsaw representative office.
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Last updated 9 February 2006 at 12:19
